Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.
Support MFO
Donate through PayPal
The Closing Bell: The Closing Bell: Stocks Struggle For Traction As Bond Yields Remain In Focus
FYI :U.S. stocks struggled for direction in a volatile session Tuesday, with major indexes moving in and out of negative territory as investors continued to monitor bond yields and the implication that rising yields could have on equities.
A broad selloff among materials firms sent the S&P 500 lower Tuesday, putting the index on pace for its fourth consecutive session of losses.
The S&P 500 and the Nasdaq entered Tuesday riding a three-day losing streak, while the Dow posted a small gain in the previous session.
The sector of chemical companies, mining firms and packaging businesses tumbled after paint and coating maker PPG Industries warned that higher raw material costs and lower demand in China would crimp profits in the third and fourth quarters.
That was on top of the International Monetary Fund paring global growth expectations for next year, saying that protectionist trade policies and instability in emerging markets will curtail economic expansion.
